I'm looking to bundle them and 1031 exchange them into a larger property.  

I didn't have much imagination for it. 5 years ago I started looking at buying a larger home I could house hack because it allowed me to get a larger property than I could afford.

Its a nice little cheat/loophole on the mortgage side that can help afford a larger home pice and increase your chances of getting a home or other loans.If you have any questions feel free to reach out I am always happy to help and go over the basics.

I think smaller markets say sub 50k population would have a larger impact from one big move from a manufacturing facility or something like a Amazon processing center.

Purchase price: $169,000 Cash invested: $33,800 Property was recently renovated to increase the value of the property and the cashflow What made you interested in investing in this type of deal?

Those with little to no experience should have even larger amounts of reserves in place before they purchase real estate. 

Unless you are confident in estimating the renovations needed, I would highly recommend getting a contractor's professional opinion of the rehab costs.

Whether it’s sprucing up a property with a few renovations or doing a full-scale flip, a good contractor can make all the difference.

Their income is only 3X rent, they lack credit history, and the household is much larger, which could result in more wear and tear.

Quote from @Bob Dole: All,Apologies for the newb question, but I just heard about cost segregation and have been reading up about it online.My understanding is this (and please correct me where I'm wrong):Pros: -accelerate depreciation, front load (vs. just a straight line over 39 years) -save money on taxes because of the depreciationCons: -if I sell the property, the recapture will be larger -not recommended if you flip propertiesSo hypothetical situation:-Majority of our income is W2 based, let's say it's $500k-Net income from commercial rental is $100k-Income from dividends and interests is $100k-Both of us are full time W2, so non-prof real estate (but this can change  -- please see below)So we're hypothetically grossing $700k a year.